M&T Bank buying Bridgeport-based People’s United Bank

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(WTNH) — M&T’ Bank is buying the Bridgeport-based People’s United Bank.

The combined company will have approximately $200 billion dollars in assets and a network of more than 1,100 branches and more than 2,000 ATM’s in twelve states from Maine to Virginia.

The $7 billion deal is expected to close in the fourth quarter. It still needs a sign-off from shareholders of both companies.

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